Mumbai, July 7 -- The iconic Filmistan studio - where memorable films like Anarkali, Paying Guest, Tumsa Nahin Dekha and Nagin were produced in the 1940s and 1950s - has been sold for Rs 183 crore to a builder, who plans to construct an ultra luxury residential tower there.

Spread over a four acre area located near Patkar College at Goregaon in north Mumbai, Filmistan studio was acquired by M/s Arcade Developers Ltd from Filmistan Pvt Ltd for Rs 183 crore. The deal was registered on July 3.

Set up by Sashadhar Mukherjee, grandfather of actors Kajol and Rani Mukerji, actor Ashok Kumar and Rai Bahadur Chunilal, father of legendary music director Madan Mohan and Gyan Mukherjee in 1943, the Filmistan studio has a rich history. Films were shot...